Board of Trustees

From Kenyon News - February 11, 2014

Initiatives to help students who rely on need-based financial aid, including internship support and greater choice in housing, highlighted the meeting of the Kenyon College Board of Trustees on Friday in San Francisco.

A 5.8 percent increase in financial aid is also part of an operating budget of $129,620,000 that represents an increase of 3.6 percent over the budget for the current fiscal year.

Trustees also approved a 2.5 percent increase to the salary pool for administrators, faculty, and non-union staff for the next fiscal year. For the second year, the College will evaluate individual salaries in response to the salary study conducted by Chernoff Diamond & Co. Pay increases for non-exempt employees will vary depending on job classification and length of service. Pay for employees in unions is dictated by negotiated contract.

President Sean Decatur, in a statement to the board, described his ongoing efforts to gather input from alumni, parents, and friends of the College in order to craft a strategic plan. “A vision is emerging of the Kenyon of 2020 as an institution that puts academic excellence in the liberal arts tradition at its core,” Decatur said. The College, he said, must embrace the challenge of applying the lessons of the liberal arts to solve contemporary problems and prepare its students to become “creative leaders and innovators in a range of fields.”

Board chair Barry Schwartz ’70 said the annual budget expresses the growth and stability of the College as it faces the challenges of providing an elite liberal arts education to students who represent the full spectrum of the culture and society.

Points of interest in the budget and in other action taken by the trustees:

Tuition and fees. An increase of 3.65 percent is a reduction from the 3.75 percent increase put in place for the current fiscal year and is intended to slow the rate of cost increases over a five-year period. Combined tuition and fees will rise to $58,890.

Financial aid. $28,312,000 was set aside for financial aid, an increase of 5.8 percent. The boost in financial aid is part of a continuing initiative to attract more low- and middle-income students.

Internship help. An expanded Summer Internship Stipend Fund was approved to provide financial aid for students who otherwise cannot afford to accept unpaid internships or internships that require travel and living expenses. Trustees added $75,000 to the internship fund, which was launched this year with $30,000.

Student apartment access. A housing initiative was approved for seniors who receive need-based financial aid and would like to move into apartment-style housing that they otherwise could not afford. The initiative was sparked after conversations trustees had with students more than a year ago about issues of diversity and equalizing housing opportunities. Trustees provided $150,000 to cover a credit for a room charge equal to the difference between a double-occupancy residence hall room rate and a double-occupancy apartment room rate.

Health insurance premiums. For the 2014-15 fiscal year, employees can expect modest increases to Kenyon health insurance premiums, due in part to costs associated with federal health-care reform. Health insurance premiums are based on the plan chosen by the employee (Premium or Basic plans and Single, Single+1, or Family coverage) and are further determined by annual salary tiers (under $42,999; $43,000-$71,999; and more than $72,000).

Increases in the employee portion of the health insurance premium for the Basic Plan will range from a low of $4 per month (Single Plan, low-salary tier) to $20 per month (Family Plan, high-salary tier). Increases in the employee portion for the Premium Plan will range from $12 per month (Single Plan, low-salary tier) to $47 per month (Family Plan, high-salary tier).

The 2014-15 Fringe Benefit Cost Sheet will be posted on the Human Resources web page later in the semester. Employees may contact the Human Resources staff at any time with questions regarding health insurance and other benefits.

Comprehensive campaign. Trustees authorized the planning phase for a new comprehensive campaign. The successful “We Are Kenyon” campaign generated $240 million and concluded in 2011.

Kenyon Institute. Support for the Kenyon Institute was affirmed through 2015. The institute is the ambitious and promising program that helps maximize Kenyon facilities during summer months. The institute includes seminars to enhance professional writing and teaching skills and an array of short courses taught by Kenyon faculty.

Kokosing Nature Preserve. Trustees endorsed the Philander Chase Corporation plan to create a nature preserve cemetery on Quarry Chapel Road in College Township, at the site of the Tomahawk Golf Course. Development plans are contingent on College Township zoning approval. A nine-hole golf course to be leased to an independent operator is being planned in conjunction with the nature preserve.

Line-up Changes. Trustees accepted the resignation of trustee David Trautman of Granville, Ohio, who is the president and chief executive officer of Park National Bank in Newark, Ohio. The board welcomed the addition of James F. Parker ’81 P ’10of Lake Bluff, Illinois, who is the president of Parker Plastics.